简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:Argo Blockchain (LON: ARB) has released its annual financials for 2021, reporting a 291 percent increase in revenue to £74.2 million ($100.1 million). It was driven by both the companys operational improvements and the overall industry effects.
The company benefited from the reduced hashrate last year.
It is expecting to kick off operations at Helios in May.
Take Advantage of the Biggest Financial Event in London.
Argo highlighted multiple factors that benefited its business last year: a significant increase in its hashrate, a temporary drop in Bitcoin mining difficulty , and a rise in Bitcoins fiat value.
The company even improved its mining margin to 84 percent from the previous years 41 percent. It was mostly due to the drop in global hashrate after the ban on Bitcoin mining in China in May 2021.
The impressive operational figures pushed the EBITDA of the Bitcoin mining company to £52.9 million ($71.4 million), which was a jump of 594 percent. The net income of the company stood at £30.8m ($41.5 million), a year-over-year increase of 2,033 percent.
“2021 was truly a year of transformation for Argo as we accomplished key milestones to strengthen the foundation of the Group and position us for long-term success,” said Argos CEO, Peter Wall.
Mined Less Bitcoins
The company mined 2,045 Bitcoins last year, which was 17 percent lower than in 2020. The decrease was due to the halving of the Bitcoin mining rewards. At the end of the year, Argo held cash and digital assets amounted to £92.6 million ($124.9 million). This figure jumped to 2,700 Bitcoin and Bitcoin equivalents valued at £93.6 million ($122.9 million) at the end of March 2022.Meanwhile, Argo also scaled its operations last year with acquisitions. It bought the Texas-based Helios project with a power capacity of up to 800MW and also two data centers in Quebec, Canada with a combined capacity of 20MW. The operations at Helios is expected to begin in May 2022.
It also purchased 20,000 Bitmain S19J Pro mining machines which are expected to be installed by October 2022.
“The acquisition of Helios provided us with the opportunity to build a best-in-class, vertically-integrated facility with access to low-cost and sustainable electricity, which is unmatched by our peers,” said Wall.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
ATFX upgrades MT4/MT5 servers at Equinix Hong Kong and London, boosting low-latency trading, enhancing global network performance, and optimizing infrastructure.
ICE Futures U.S. recently announced the settlement of charges against StoneX Financial Inc. related to potential violations of the Exchange Rule, which prohibits trade practices such as wash sales and prearranged trades. These charges were connected to an incident that occurred on April 27, 2023, where an employee of StoneX allegedly placed opposing buy and sell orders in the Cocoa Futures spread market.
The Labuan Financial Services Authority (LFSA) has introduced new restrictions on locally regulated forex and contracts for differences (CFDs) brokers, limiting their offerings to currency-related instruments such as spot FX and CFDs on foreign exchange.
The Italian financial services regulator, Consob, has taken decisive action against four new websites that were found to be illegally offering unauthorized financial services.